Overview

What are NextShares?

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Historical Returns (%)as of Jun 30, 2017

Annualized
1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years Since Fund Inception
Feb 25, 2016
08/31/2017
Fund at NAV 0.10 3.09 11.27 13.27 8.08 13.81 7.71 15.76
Fund at Market Price 0.10 3.11 11.27 13.22 15.76
S&P 500 Index1 0.31 3.01 11.93 16.23 9.53 14.33 7.61 20.23
06/30/2017
Fund at NAV 1.16 4.15 9.19 14.16 8.18 14.34 7.44 16.28
Fund at Market Price 1.18 4.19 9.19 14.16 16.28
S&P 500 Index1 0.62 3.09 9.34 17.90 9.60 14.62 7.18 20.94
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than indicated. The Fund's performance at market price will differ from its results at net asset value (NAV). The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading as of the time that the Fund's NAV is calculated. If you trade your shares at another time during the day, your return may differ. Returns are historical and are calculated by determining the percentage change in NAV or market price (as applicable) with all distributions reinvested at NAV or closing market price (as applicable) on the payment date of the distribution, and are net of management fees and other expenses. Performance less than one year is cumulative.

The Fund pursues its investment objective by investing in a separate investment fund (the Portfolio). The returns at NAV for periods before the date the Fund commenced operations are for a mutual fund that invests in the Portfolio (the Portfolio Investor). The performance during such period does not represent the performance of the Fund. The prior investment performance of the Portfolio Investor (rather than the Portfolio itself) is shown because it reflects the expenses typically borne by a retail fund investing in the Portfolio. The Portfolio Investor returns are not adjusted to reflect differences between the total net operating expenses of the Fund and the Portfolio Investor during the periods shown. If such an adjustment were made, the performance presented below would be higher, because the Fund's total net operating expenses are lower than those of the Portfolio Investor. Performance is for a share class of the Portfolio Investor offered at net asset value.

Fund Factsas of Aug 31, 2017

Inception 02/25/2016
Investment Objective Long-term capital appreciation
Total Net Assets2 $8.0M
Total Net Assets of Portfolio2 $622.3M
Exchange NASDAQ
Shares Outstanding 325000
Expense Ratio (Gross)3 1.49%
Expense Ratio (Net)3,4 0.65%
CUSIP 27830G608

Top 10 Holdings (%)5,6,7as of Aug 31, 2017

Apple Inc
Facebook Inc
Alphabet Inc - CL C
Walt Disney Co
Chubb Ltd
Verizon Communications Inc
Gilead Sciences Inc
JPMorgan Chase & Co
Johnson & Johnson
First American Financial Corp
Total 25.35

Portfolio Management

Charles Gaffney Managed Fund since inception

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

Fund performance is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%)as of Jun 30, 2017

Annualized
1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years Since Fund Inception
Feb 25, 2016
08/31/2017
Fund at NAV 0.10 3.09 11.27 13.27 8.08 13.81 7.71 15.76
Fund at Market Price 0.10 3.11 11.27 13.22 15.76
S&P 500 Index1 0.31 3.01 11.93 16.23 9.53 14.33 7.61 20.23
06/30/2017
Fund at NAV 1.16 4.15 9.19 14.16 8.18 14.34 7.44 16.28
Fund at Market Price 1.18 4.19 9.19 14.16 16.28
S&P 500 Index1 0.62 3.09 9.34 17.90 9.60 14.62 7.18 20.94
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund's current performance may be lower or higher than indicated. The Fund's performance at market price will differ from its results at net asset value (NAV). The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading as of the time that the Fund's NAV is calculated. If you trade your shares at another time during the day, your return may differ. Returns are historical and are calculated by determining the percentage change in NAV or market price (as applicable) with all distributions reinvested at NAV or closing market price (as applicable) on the payment date of the distribution, and are net of management fees and other expenses. Performance less than one year is cumulative.

The Fund pursues its investment objective by investing in a separate investment fund (the Portfolio). The returns at NAV for periods before the date the Fund commenced operations are for a mutual fund that invests in the Portfolio (the Portfolio Investor). The performance during such period does not represent the performance of the Fund. The prior investment performance of the Portfolio Investor (rather than the Portfolio itself) is shown because it reflects the expenses typically borne by a retail fund investing in the Portfolio. The Portfolio Investor returns are not adjusted to reflect differences between the total net operating expenses of the Fund and the Portfolio Investor during the periods shown. If such an adjustment were made, the performance presented below would be higher, because the Fund's total net operating expenses are lower than those of the Portfolio Investor. Performance is for a share class of the Portfolio Investor offered at net asset value.

Calendar Year Returns (%)

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Fund at NAV
Fund at Market Price
S&P 500 Index1 5.49 -37.00 26.46 15.06 2.11 16.00 32.39 13.69 1.38 11.96
See above note regarding performance calculations. There is no Fund at Market Price performance because the Fund has not completed a calendar year of operations.

Fund Facts

Expense Ratio (Gross)3 1.49%
Expense Ratio (Net)3,4 0.65%
Inception 02/25/2016
Distribution Frequency Annually

Risk Measures (3 Year)8as of Aug 31, 2017

Alpha (%) -0.66
Beta 0.92
R-Squared (%) 95.18
Standard Deviation (%) 9.59
Sharpe Ratio 0.81

NAV History

Date NAV NAV Change
Sep 21, 2017 $24.78 -$0.09
Sep 20, 2017 $24.87 $0.02
Sep 19, 2017 $24.85 $0.01
Sep 18, 2017 $24.84 $0.07
Sep 15, 2017 $24.77 $0.07
Sep 14, 2017 $24.70 -$0.06
Sep 13, 2017 $24.76 -$0.01
Sep 12, 2017 $24.77 $0.10
Sep 11, 2017 $24.67 $0.23
Sep 08, 2017 $24.44 -$0.01

Distribution History9

Ex-Date Distribution
Aug 02, 2017 $0.01160
Dec 13, 2016 $0.12820
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

Fund performance is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Trading & Portfolio

Trade Data10as of Sep 21, 2017

vs. Prior Business Day Change (%)
Closing Price $24.78 -$0.09 -0.36%
Closing NAV $24.78 -$0.09 -0.36%
Closing Bid/Ask
Midpoint (of bid/ask) NAV+$0.00
Spread (between bid/ask) $0.04
Intraday Price (vs. NAV)
High NAV
Low NAV
Average (Volume-Wtd) NAV
Closing NAV
Trading Volume (Shares)

Trading History11Inception through Sep 21, 2017

Premium/Discount Closing
Date High Low Average
(Volume-Wtd)
Closing Price Closing Bid/Ask Midpoint Bid/Ask Spread
Sep 21, 2017 $0.00 $0.04
Sep 20, 2017 -$0.04 $0.12
Sep 19, 2017 $0.04 $0.12
Sep 18, 2017 $0.02 -$0.02 -$0.02 -$0.02 -$0.04 $0.12
Sep 15, 2017 $0.02 $0.02 $0.02 $0.02 $0.00 $0.06

Historical Premiums/Discounts and Trading Spreads12Inception through Sep 21, 2017

Premium/Discount Closing
Range Closing Price Vol Wtd Ave Price Closing Bid/Ask Midpoint Bid/Ask Spread
>1.00%
+0.76% to +1.00%
+0.51% to +0.75% 0%
+0.26% to +0.50% 4%
-0.25% to +0.25% 98% 98% 100% 96%
-0.26% to -0.50% 2% 2%
-0.51% to -0.75%
-0.76% to -1.00%
<-1.00%

Asset Mix (%)6,7as of Aug 31, 2017

U.S. Common Stocks 97.21
Foreign Common Stocks 2.82
Cash -0.03
Total 100.00

Portfolio Statistics6as of Aug 31, 2017

Average Market Cap $156.3B
Price/Earnings Ratio 18.43
Number of Holdings 80
Price/Book Ratio 3.01

GICS Sector Breakdown (%)6,7as of Aug 31, 2017

Sector Fund S&P 500 Index1
Consumer Discretionary 11.98 12.06
Consumer Staples 8.82 8.48
Energy 5.55 5.67
Financials 14.16 14.23
Health Care 14.56 14.66
Industrials 10.21 10.10
Information Technology 23.38 23.51
Materials 2.89 2.90
Real Estate 2.89 2.98
Telecom Services 2.22 2.14
Utilities 3.36 3.26
Cash -0.03

Portfolio Holdings6,7,13as of Jul 31, 2017

Holding % of Net Assets
Apple Inc 3.70%
Alphabet Inc - CL C 2.94%
Facebook Inc 2.94%
Verizon Communications Inc 2.38%
Chubb Ltd 2.31%
JPMorgan Chase & Co 2.10%
Wells Fargo & Co 2.07%
First American Financial Corp 2.02%
Chevron Corp 2.02%
Zimmer Biomet Holdings Inc 1.97%
View All

Basket Details14Sep 25, 2017

Holding Shares
View All

Transaction Fees15,16,17Sep 25, 2017

No. of Creation Units Fee per Creation Unit (bps)
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

Fund performance is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Insights & Analysis

Commentary

No commentary information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

Fund performance is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.

Attribution

No attribution information is currently available.

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding. Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio's holdings.

†Intraday Indicative Value (IIV)

The IIV is an estimate of the real-time value of the Fund's underlying holdings based on current market prices and should not be viewed as a projection of NAV, which is determined at the end of the day. Because IIVs will generally differ from the end-of-day NAV of the Fund, they cannot be used to calculate with precision the dollar value of a prescribed number of shares to be bought or sold. Investors should understand that share transaction prices are based on closing NAVs, and that NAVs may vary significantly from IIVs during periods of intraday market volatility. Neither the Fund, the Trust nor any of their affiliates are involved in, or responsible for, the calculation or dissemination of IIVs nor make any warranty as to their accuracy. An inaccuracy in an IIV could result from various factors, including difficulty pricing portfolio instruments on an intraday basis. The IIV is disseminated every 15 minutes during normal trading hours and is as of the time noted above. An IIV is not available when the market is closed.

‡Bid and Ask

The bid and ask prices shown are as of the time noted and may not reflect current quotations. The Fund's NAV normally is determined as of 4:00 p.m. each business day.

About Risk: 

Fund performance is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Biography
Charles Gaffney

Charles Gaffney

Vice President, Eaton Vance Management
Joined Eaton Vance 2003

Charles Gaffney is a vice president of Eaton Vance Management and portfolio manager on Eaton Vance’s global core team. He is responsible for buy and sell decisions, portfolio construction and risk management for a number of the firm’s global core equity strategies. He is a member of the firm’s Equity Strategy Committee. He joined Eaton Vance in 2003.

Charlie began his career in the investment management industry in 1996. Before joining Eaton Vance, he was affiliated with Brown Brothers Harriman as a sector portfolio manager and Morgan Stanley Dean Witter as a senior equity analyst.

Charlie earned a B.A. from Bowdoin College in 1995 and an MBA from Fordham University in 2002.

Education
  • B.A. Bowdoin College
  • M.B.A. Graduate School of Business, Fordham University

Experience
  • Managed Fund since inception

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2017

NextShares Brochure

Download - Last updated: Oct 21, 2016

Annual Report

Download - Last updated: Dec 31, 2016

Full Prospectus

Download - Last updated: May 1, 2017

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Download

SAI

Download - Last updated: May 1, 2017

Semi-Annual Report

Download - Last updated: Jun 30, 2017

Summary Prospectus

Download - Last updated: May 1, 2017

XBRL

Download - Last updated: May 10, 2017